How To Become A Chartered Accountant In Nigeria In 2024

The steps to becoming a chartered accountant in Nigeria are as follows:

1. Obtain your secondary school certificate

The 6-3-3-4 is employed in the Nigerian educational system. With this educational system, children can spend 6 years in elementary school, 3 years in junior secondary school, 3 years in senior secondary school, and 4 years in postsecondary education.

The first three years of secondary school (JSS 1–3) are devoted to general, extremely broad courses. Students will have the option of choosing from three main classes beginning in the fourth year (SSS 1–3).

Art class
Science class
Commercial class

Your future job path will be determined by the class you choose. Passing the commercial class is a requirement to become a chartered accountant in Nigeria. Additionally, you need to be quite skilled in economics, accounting, commerce, and bookkeeping in addition to the general English language and mathematics.

You can take the West African Examination Council (WAEC) and the Nigerian Examination Council (NECO) exams after three years.

2. Obtain an accounting degree from a university or polytechnic

Most Nigerian colleges and polytechnics require students to have at least a C6 mark in English Language, Mathematics, Economics, Government, and Commerce before they may enroll in an accounting program.

English Language, Mathematics, Economics, and one other relevant topic are required for the Unified Tertiary Matriculation Examination (UTME) accounting subject requirements.

A degree certificate in accounting will be given to you once you have completed four years of study at the tertiary institution of your choice.

3. Obtain a professional accounting certificate

Any of Nigeria’s certifying organizations can issue you a professional accounting certificate.

Institute of Chartered Accountants of Nigeria (ICAN)
Associate of the Institute of Chartered Accountants (ACA)
Association of National Accountants of Nigeria (ANAN)
Chartered Institute of Management Accountants (CIMA)

ICAN and ANAN are the most renowned accounting bodies in Nigeria. You can read How To Register For ICAN 2024 | Requirements, Set Up Guideline

How To Become Certified As A Chartered Accountant By ICAN In Nigeria In 2024

To become certified as a chartered accountant by ICAN in Nigeria, here are certain requirements you need to meet:

Requirements needed to be certified by the Institute of Chartered Accountants of Nigeria (ICAN)

A degree from a Nigerian university that has earned accreditation or an HND from a reputable polytechnic in Nigeria.
Your O’ level results must have a minimum of five credits.
Two most recent passport photos.
Copies of your academic transcripts and your certificate of completion of the NYSC.

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Pathways to the Institute of Chartered Accountants of Nigeria (ICAN)

The ATS Route

If you have not yet graduated from or enrolled in a tertiary institution, this option is for you. You may utilize your O’Level scores, however, no more than two sittings may be used.

The Professional Route

You can apply for ICAN as an accounting graduate with your BSC or HND results. In this instance, you will begin with ICAN’s second step (The Skills Level).
You can also apply for ICAN if you graduated from college but did not major in accounting. In this scenario, you will need to start at the fundamental level.

How Much Does It Cost to Register For ICAN In Nigeria?

Whether you are a student or a professional, the cost of joining the Institute of Chartered Accountants of Nigeria (ICAN) varies based on the level of membership you want. Here are some estimated prices:

Student membership: ₦10,000 ($25)
Associate membership: ₦50,000 ($125)
Fellow membership: ₦100,000 ($250)

Please be aware that these costs could alter in the future and that there might be extra charges for tests and other services. The best place to go to find out about the most recent costs and registration requirements is ICAN’s official website.

How To Study For ICAN Exam

Here is an outline of what to do if you must pass your ICAN exam:

Enroll in a study center or school that is accredited by ICAN. These centers provide classes and materials that will help you study for the ICAN tests.
Obtain the ICAN study guide and course outline. This will give you an overview of the subjects included in the tests.
Establish a study schedule and stick to it. This will help you cover everything in the curriculum and also practice some questions.
Get the ICAN Exam past questions and answers. This study material will help you prepare for the tests by giving you a vivid idea of the team structure and level of difficulty.
If you require additional assistance, seek advice and assistance from your study center or a tutor.

You will be well-prepared for the ICAN tests by adhering to these instructions and being dependable with your study habits.

How Much Does A Chartered Accountant Earn In Nigeria?

It is difficult to give an accurate assessment of the earning potential of chartered accountants in Nigeria because it can differ depending on a variety of variables, including the person’s degree of education and experience, the particular industry in which they operate, and the location of their position.

Having said that, chartered accountants in Nigeria often earn good incomes, and their earning potential tends to rise as they gain more experience and specialize in a certain field. The average monthly payment for a chartered accountant in Nigeria is about NGN 313,000, according to Salary Explorer. However, this might vary greatly based on the person’s level of education, experience, and industry of employment.

List of federal, state, and private universities that offer accounting in Nigeria

Abia State University, Uturu, Abia State
Adekunle Ajasin University, Akungba-Akoko, Ondo State
Ahmadu Bello University, Zaria, Kaduna State
American University of Nigeria, Yola, Adamawa State
Bauchi State University, Gadau, Bauchi State
Benue State University, Makurdi, Benue State
Caritas University, Amorji-Nike, Enugu State
Chukwuemeka Odumegwu Ojukwu University, Uli, Anambra State
Cross Rivers University of Technology, Calabar, Cross River State
Ebonyi State University, Abakaliki, Ebonyi State
Ekiti State University, Ado-Ekiti, Ekiti State
Elizade University, Ilara-Mokin, Ondo State
Enugu State University of Science and Technology, Enugu State
Evangel University, Akaeze, Ebonyi State
Federal University of Agriculture, Makurdi, Benue State
Federal University, Dutsin-Ma, Katsina State
Federal University, Kashere, Gombe State
Federal University, Wukari, Taraba State
Igbinedion University, Okada, Benin City, Edo State
Imo State University, Owerri, Imo State
Lead City University, Ibadan, Oyo State
Madonna University, Okija, Anambra State
Mcpherson University, Seriki Sotayo, Ogun State
Nasarawa State University, Keffi, Nasarawa State
Niger Delta University, Wilberforce Island, Bayelsa State
Nnamdi Azikiwe University, Awka, Anambra State
Obafemi Awolowo University, Ile-Ife, Osun State
Olabisi Onabanjo University, Ago-Iwoye, Ogun State
Osun State University, Osogbo, Osun State
Plateau State University, Bokkos, Plateau State
Rivers State University of Science and Technology, Port Harcourt, Rivers State
University of Abuja, Abuja
University of Ilorin, Ilorin, Kwara State
University of Lagos, Akoka, Lagos State
University of Maiduguri, Maiduguri, Borno State
University of Mkar, Gboko, Benue State
University of Nigeria, Enugu Campus, Enugu State
University of Port-Harcourt, Choba, Rivers State
University of Uyo, Akwa Ibom State
Usmanu Danfodiyo University, Sokoto, Sokoto State
Wellspring University, Irhihi/Ogbaneki, Benin City, Edo State
Western Delta University, Oghara, Delta State

List of federal, state, and private polytechnics that offer accounting in Nigeria

Abdul-Gusau Polytechnic, Talata-Mafara, Zamfara State.
Abia State Polytechnic, Aba, Abia State
Abraham Adesanya Polytechnic, Ijebu-Igbo, Ogun State
Abubakar Tatari Ali Polytechnic, Bauchi, Bauchi State
Adamawa State Polytechnic, Yola, Adamawa State
Akanu Ibiam Federal Polytechnic, Unwana, Afikpo, Ebonyi State
Akwa Ibom State College of Arts and Science Nung, Ukim, Akwa Ibom State
Akwa-Ibom State Polytechnic, Ikot-Osurua, Akwa Ibom State
Allover Central Polytechnic, Ota, Ogun State
Auchi Polytechnic, Auchi, Edo State
Bayelsa State College of Arts and Science, Yenagoa, Bayelsa State
Benue State Polytechnic, Ugbokolo, Benue State
College of Administrative and Business Studies, Potiskum, Yobe State
College of Technology, Iresi, Osun State
Covenant Polytechnic, Aba, Abia State
Crown Polytechnic, Odo Ado-Ekiti, Ekiti State
S. Adegbenro ICT Polytechnic, Itori, Ogun State
Delta State Polytechnic, Ogwashi-Uku, Delta State
Delta State Polytechnic, Otefe, Delta State
Delta State Polytechnic, Ozoro, Delta State
Dorben Polytechnic, Bwari-Garam Road, FCT-Abuja
Eastern Polytechnic, Port Harcourt, Rivers State
Edo State Institute of Technology and Management, Edo State
Federal Polytechnic Offa, Kwara State
Federal Polytechnic, Bali, Adamawa State
Federal Polytechnic, Bauchi, Bauchi State
Federal Polytechnic, Bida, Niger State
Federal Polytechnic, Damaturu, Yobe State
Federal Polytechnic, Ede, Osun State
Federal Polytechnic, Idah, Kogi State
Federal Polytechnic, Kaura/Namoda, Kaduna State
Federal Polytechnic, Mubi, Adamawa State
Federal Polytechnic, Nasarawa State
Federal Polytechnic, Nekede, Imo State
Federal Polytechnic, Oko, Anambra State
Federal Polytechnic, Ilaro, Ogun State
Federal Polytechnic, Ado-Ekiti, Ekiti State
Federal Polytechnic, Ukana, Abia State
Fidei Polytechnic, Gboko, Benue State
Gateway ICT Polytechnic, Saapade, Ogun State
Grace Polytechnic, Lagos State
Hassan Usman Katsina Polytechnic, Katsina State
Heritage Polytechnic, Ikot Udota, Akwa Ibom State
Hussaini Adamu Federal Polytechnic, Kazaure, Jigawa State
Igbajo Polytechnic, Osun State
Igbo-Owu Polytechnic, Kwara State
Imo State Polytechnic, Umuagwo, Owerri, Imo State
Institute of Management And Technology, Enugu State
Interlink Polytechnic, Ijebu-Jesa, Osun State
Jigawa State Polytechnic, Dutse, Jigawa State
Kaduna Polytechnic, Kaduna, Kaduna State
Kalac Christal Polytechnic, Lekki, Lagos State
Kano State Polytechnic, Kano State
Kings Polytechnic, Ubiaja, Edo State
Kogi State Polytechnic, Lokoja, Kogi State
Kwara State Polytechnic, Ilorin, Kwara State
Lagos City Polytechnic, Ikeja, Lagos State
Lagos State Polytechnic, Ikorodu, Lagos State
Light House Polytechnic, Eubuobanosa, Edo State
Mai Idris Alooma Polytechnic, Geidam, Yobe State
Moshood Abiola Polytechnic, Abeokuta, Ogun State
Nacabs Polytechnic, Akwanga, Nasarawa State
Nasarawa State Polytechnic, Lafia, Nasarawa State
Niger State Polytechnic, Zungeru, Niger State
Nogak Polytechnic, Mile 2 Road, Ikom, Cross River State
Nuhu Bamalli Polytechnic, Zaria, Kaduna State
Ogun State Institute of Technology, Igbesa, Ogun State
Our Saviour Institute Of Science and Technology (Poly) Enugu, Enugu State
Plateau State Polytechnic, Barkin-Ladi, Plateau State
Ramat Polytechnic, Maiduguri, Borno State
Rivers State College of Arts and Science, Port Harcourt, Rivers State
Rivers State Poly, Bori, Rivers State
Ronik Polytechnic, Ikeja, Lagos State
Rufus Giwa Polytechnic, Owo, Ondo State
Temple-Gate Polytechnic, Osisioma, Abia State
Oke-Ogun Polytechnic, Saki, Oyo State
The Polytechnic, Ile-Ife, Osun State
Uyo City Polytechnic, Uyo (Uyo-Citypoly), Uyo, Akwa-Ibom State
Valley View Polytechnic, Ohafia, Abia State
Waziri Umaru Federal Polytechnic Birnin Kebbi, Kebbi State
Wolex Polytechnic, Ikeja, Lagos State Yaba College of Technology, Yaba, Lagos State

How Long Does It Take To Become A Chartered Accountant In Nigeria?

It will take a minimum of three years to become a chartered accountant in Nigeria after completing the professional ACA and ICAN exams which are professional qualifying exams.

Frequently Asked Questions On How To Become A Chartered Accountant In Nigeria

What is ICAN?

ICAN is an acronym that stands for Institute of Chartered Accountants of Nigeria. It is one of the two organizations that govern the practice of accounting in Nigeria.

Are There Disadvantages Of Becoming An Accountant Without A Degree?

Being an accountant without a degree is extremely difficult, especially when trying to get employment. Not having a degree in accounting disqualifies you from applying for several accounting professions as a degree is sometimes the minimal prerequisite for gaining an accounting job.

How long does it take to become a chartered accountant in Nigeria?

It takes at least three years after completing the ACA professional exam to become a chartered accountant in Nigeria.

Conclusion

Now you know what it takes to become a chartered accountant in Nigeria, the next big step to take is to get started in the pursuit. Cheers!

References

icanpathfinder.com – How To Become A Chartered Accountant In Nigeria
trendingaccounting.com – How To Becoeme An Accountant Without Degree
makemoney.ng – How To Become A Chartered Accountant In Nigeria

How To Become A Chartered Accountant In Nigeria In 2024

Table of contents

Who Is A Chartered Accountant In Nigeria?

What Is The Difference Between An Accountant And A Chartered Accountant In Nigeria?